Traceback (most recent call last):
File "<string>", line 1, in <module>
File "/Library/Python/2.7/site-packages/virtualenvwrapper/hook_loader.py", line 12, in <module>
import optparse
File "/System/Library/Frameworks/Python.framework/Versions/2.7/lib/python2.7/optparse.py", line 77, in <module>
import textwrap
File "/System/Library/Frameworks/Python.framework/Versions/2.7/lib/python2.7/textwrap.py", line 32, in <module>
class TextWrapper:
File "/System/Library/Frameworks/Python.framework/Versions/2.7/lib/python2.7/textwrap.py", line 74, in TextWrapper
whitespace_trans = string.maketrans(_whitespace, ' ' * len(_whitespace))
AttributeError: 'module' object has no attribute 'maketrans'
virtualenvwrapper.sh: There was a problem running the initialization hooks. If Python could not import the module virtualenvwrapper.hook_loader, check that virtualenv has been installed for VIRTUALENVWRAPPER_PYTHON=/usr/bin/python and that PATH is set properly.

As far as I can tell, the items alluded to in the error message look okay,